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Caissa Tourism's Subsidiary Defrauded of 26.95 Million Yuan, Police Launch Probe
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On September 15, Jin10 Data reported that Caissa Tourism announced its wholly-owned grandchild company, Caissa Cultural Industry, signed a performance service contract with a counterparty. After paying 26.95 million yuan as agreed, the company lost contact with the counterparty, raising suspicions of contract fraud. The case has been reported to public security authorities and is now under investigation. Caissa Tourism stated that as the case remains in the investigative stage, it may adversely affect current and future profits. The company has launched an internal special review, is cooperating with the investigation, and is making every effort to recover losses.
Source report
September 15 – According to Jin10 Data, Caissa Tourism has disclosed that its wholly-owned grandchild company, Caissa Cultural Industry, entered into a performance service contract with a counterparty. After making a payment of RMB 26.95 million as agreed, the company was unable to establish effective contact with the counterparty, raising suspicions of contract fraud.
The matter has been reported to public security authorities and is currently under investigation.
Potential Impact
As the case remains in the investigative stage, it may have an adverse effect on the company's current and future profits.
Company Response
- Caissa Tourism has launched an internal special review.
- The company is cooperating fully with the investigation.
- Efforts are being made to recover losses.
Source
金十数据Neutral / independent
Part of this Story
Caissa Tourism subsidiary defrauded of 26.95 million yuan in contract scam